Politics and Money

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Financial Armageddon: FDIC to back $75 Trillion Derivatives
http://dailybail.com/home/the-hammer-gets-hit-by-a-tree.html

http://dailybail.com/home/holy-bailout-federal-reserve-now-backstopping-75-trillion-of.html


http://www.bizjournals.com/sanfrancisco/news/2011/10/21/bank-of-america-derivatives-merrill.html

http://infofeeder.info/latest-information/17963-big-risk-12-quadrillion-derivatives-market-dwarfs-world-gdp-freedoms-phoenix

http://my.firedoglake.com/southof/tag/brooksley-born-elizabeth-warren-cftc-the-consumer-protection-agency-robert-rubin-alan-greenspan-ben-bernanke-larry-summers-timothy-geithner-deregulation-regulation-wall-street-the-big-bank/

When Brooksley Born was head of the Commodities Futures Trading Commission (CFTC) under Clinton the derivatives market was estimated to be $35 trillion. After Paulson asked for and got the bailout, and when he had already left that post, Frontline did a documentary on Born. The derivatives market was then estimated to be $595 trillion. Clinton while in office signed a Bill deregulating the financial industry. He like the rest are just as guilty for the collapse. Born was initially selected for the post of Atty.Gen., but Clinton learned from Greenspan that she wasn't corruptible, and chose Janet Reno instead. We all know how Waco went down. The children they were supposed to be rescuing all burned in the fire.


Greenspan in a current interview stated his ideology regarding derivatives was wrong.......Really!. Greenspan had made a killing on WallStreet prior to taking the position as Chair. He like Paulson and the rest was a phony.